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Crystal Lagoons expands presence in Egypt

A view of the Crystal Lagoons

Crystal Lagoons has strengthened its presence in the Egypt market with the opening of its new regional office in Cairo.

Patented in 190 countries worldwide, Crystal Lagoons is now involved in projects worth over US$ five billion in Egypt, with a total of 13 contracts signed, and a further 10 at various stages of negotiation in Cairo, the North Coast, Ain Sokhna and Hurghada.

In terms of market ranking, Egypt tops the list in the Middle East and North Africa, and the company will open new headquarters in the country later this month.

Carlos Salas, MENA regional director for Crystal Lagoons, who will be responsible for heading up the office, said: “Egypt is a key market for us and as such, we have opened new headquarters in Cairo to facilitate huge number of projects and deals we are currently working on with Egypt’s developers. North Africa has been a prime location for crystal-clear lagoon development in recent years and our new office will have an integral role in supporting our valued partners.”

Projects currently under development include the North Coast, Bo Island development by Maxim Real Estate. This will be the company’s biggest project to date in Egypt, with the US$1.8 billion, 10 million-square-metre development set to offer lagoons covering a total of 32 hectares within mixed-use community. The lagoons will be complemented by an impressive 17.5 kilometres of powder-white sand beachfront and will be home to a host of unique water-based activities. The initial phase, which is equal to 10% of the total area, will cost an estimated US$455 million and is expected to be completed in Q1 2018.

“In our experience, developers are able to charge a premium on properties overlooking our projects and thus can attain a strong ROI. Not only that, our lagoons are very sympathetic to the local environment, our manmade lagoons use up to 100 times less chemicals than a traditional filtration system and 98% less energy required by conventional water treatment systems, meaning our technology provides a viable, sustainable solution, despite challenges such as water and energy supply. We can use any kind of water including brackish from underground aquifers, eliminating the need to consume valuable fresh water resources,” said Salas.

Crystal Lagoons currently boasts over 600 projects in different development and negotiation stages in 60 countries worldwide.